Exports extend rises in Shanghai-bonded copper stocks

SHANGHAI, Dec 7 (SMM) – Copper stocks across Shanghai bonded areas increased by 1,400 mt from a week earlier to stand at 410,000 mt as of Friday December 7, SMM data showed.

Domestic smelters continued to accelerate exports and this accounted for the gains. Slow domestic consumption from late-September kept import losses at highs, which buoyed exports from smelters. Few imported cargoes arrived at bonded warehouses this week, SMM learned.